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| S&P 500 - End of Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 22 Nov'14 |
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| S&P 500 - End of Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 22 Nov'14 |
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| S&P 500 - End of Day Chart (EOD) - Channel analyzing Data from Jan'14, onward - as on 22 Nov'14 |
Learning from last Week: (click here for the previous post)
Patterns:
- October Candle the Green Hanging Man #M1, produces a Bullish Continuation for now.
- Index rises from the Day Channel Bottom to fresh ATH - producing a perfect 'Broadening Top' on the Day Charts, index pops out of the 'top' #D1.
Support & Resistance:
- Bulls after defending the Month channel bottom on the EOM #M1, get yet another ATH #D1.
- Bears pushed back to defending the Weekly channel top #D1, #W1.
Moving Averages:
- Daily 5 EMA and 13 SMA, mildly deflect Bullishly #D1.
Indicators:
- RSI 13 still in the 60s, divergence to price seen #W2.
Wrap:
Bulls pop out of the Broadening top on the EOD after keeping above the daily 5 EMA all the way from the Channel bottom i.e. for 26 days.
Bears fail to defend the Broadening Top's top and are near the weekly channel top (orange) #D1.
Bears fail to defend the Broadening Top's top and are near the weekly channel top (orange) #D1.
Looking forward into this Week:
- Weekly Channel Top #W1 and current All Time High (ATH) are resistances.
- The 5 EMA on the daily charts and on weekly charts (2026) are the supports, Bears want to break #W1.
- The Index is currently above all the MAs that we track.
Indicators:
- TSI holds above the 76.4% Fibonacci retrace #M2.
Wrap:
Bulls after popping above the 'Broadening Top' on the EOD #D1, look to negotiate the Hanging Man's effect by month end.
Bears look to defend the Weekly channel top #W1 and crack that elusive 5 EMA on the Day Chart #D1.
Bears look to defend the Weekly channel top #W1 and crack that elusive 5 EMA on the Day Chart #D1.
